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LSU and Miles settle buyout

Posted at 7:57 PM, Nov 15, 2018
and last updated 2018-11-15 20:57:37-05

BATON ROUGE (PRESS RELEASE) – LSU today announced a settlement of monies owed to former head football coach Les Miles. Both parties agreed to a one-time lump sum payment of $1.5 million of the $6.5 remaining in the original agreement which would have been binding until 2023.

Vice Chancellor and Director of Athletics Joe Alleva said discussions with Miles and his representation have taken place over the course of several weeks.  Alleva said the most important single factor in negotiating a new agreement is that it gives everyone incentive to move on.

“It’s time for both parties to move forward,” said Alleva. “One of the challenges of the buyout that was in place was there just wasn’t a lot of incentive to move on to other things. We were looking to provide that and Coach Miles and his representatives also were ready. It was a mutually agreed upon goal and a very positive process from beginning to end.”

The final settlement was fully executed on Thursday, November 15th.

“Coach Miles has always been positive about our program and has consistently supported our student athletes and our coaches,” said Alleva. “He will always be part of the great history of LSU football and I wish him and his family nothing but the very best.”